# Renewable diesel projected to turbo charge biofuel growth | CoBank | Cooperative. Connected. Committed.

> CoBank projects U.S. renewable diesel capacity could grow more than six-fold to 6.5 billion gallons per year by 2030 if announced projects proceed. The report says the Inflation Reduction Act will support biofuel growth and that soybean oil-based renewable diesel would require much more domestic crush.

- Date: 2022-09-27 · published 2022-09-27T12:00:00.000Z
- Category: policy · region US · magnitude medium
- Page: https://feedsoft.ai/events/15368-renewable-diesel-projected-to-turbo-charge-biofuel-growth-cobank-cooperative
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Soybeans](https://feedsoft.ai/c/SOY.md)

## Why it matters

Rapid growth in soybean oil demand for fuel would pull soybeans into crush and reduce export availability, tightening soybean and soybean oil balances and supporting prices.

## Read by commodity

- SBO: bullish ▲
- SOY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2026-10-07 | [Biofuel demand rises on mandates and 45Z tax credits \| CoBank \| Cooperative. Connected. Committed.](https://feedsoft.ai/events/14984-biofuel-demand-rises-on-mandates-and-45z-tax-credits-cobank-cooperative.md) | -1.0% | +0.4% |
| SBO | 2026-07-08 | [Crunch time is now for meeting RVO \| CoBank \| Cooperative. Connected. Committed.](https://feedsoft.ai/events/15006-crunch-time-is-now-for-meeting-rvo-cobank-cooperative-connected-committed.md) | +7.3% | +1.8% |
| SBO | 2023-08-11 | [EVs unlikely to derail growth in renewable diesel demand - RealAgriculture](https://feedsoft.ai/events/15286-evs-unlikely-to-derail-growth-in-renewable-diesel-demand-realagriculture.md) | +0.7% | -6.4% |
| SBO | 2023-02-27 | [Soy oil demand soars amid renewable diesel growth \| CHS Inc.](https://feedsoft.ai/events/15333-soy-oil-demand-soars-amid-renewable-diesel-growth-chs-inc.md) | -1.3% | -8.2% |
| SBO | 2024-01-24 | [Renewable Diesel Boom & Where Biofuels Are Headed - Center for Commercial Agriculture](https://feedsoft.ai/events/15242-renewable-diesel-boom-and-where-biofuels-are-headed-center-for-commercial.md) | -5.4% | -4.9% |
| SOY | 2026-07-08 | [Crunch time is now for meeting RVO \| CoBank \| Cooperative. Connected. Committed.](https://feedsoft.ai/events/15006-crunch-time-is-now-for-meeting-rvo-cobank-cooperative-connected-committed.md) | +0.9% | -3.5% |
| SOY | 2023-02-27 | [Soy oil demand soars amid renewable diesel growth \| CHS Inc.](https://feedsoft.ai/events/15333-soy-oil-demand-soars-amid-renewable-diesel-growth-chs-inc.md) | +0.1% | -6.6% |
| SOY | 2021-10-27 | [Dramatic expansion in renewable diesel production could pose challenge to some biodiesel producers \| Agri-Pulse Communications, Inc.](https://feedsoft.ai/events/44391-dramatic-expansion-in-renewable-diesel-production-could-pose-challenge-to-some.md) | +0.5% | +2.8% |

## Sources

- cobank.com: https://www.cobank.com/knowledge-exchange/renewable-diesel-projected-to-turbo-charge-biofuel-growth

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.